Gold prices rise, Asian markets fall after Tehran’s attack on Israel
CNN
Gold prices rose while Asian stocks mostly fell on Monday, as rising geopolitical tensions in the Middle East spurred demand for safe haven investments after Iran launched an unprecedented attack on Israel.
Gold prices rose while Asian stocks mostly fell on Monday, as rising geopolitical tensions in the Middle East spurred demand for safe haven investments after Iran launched an unprecedented attack on Israel. Japan’s Nikkei 225 and South Korea’s Kospi both fell more than 1% in morning trade. Hong Kong’s Hang Seng Index dropped 0.8%. But China’s Shanghai Composite Index rose 1.2%. Spot gold was up 0.6% at $2,358 per ounce on Monday. It had hit an all-time high of $2,431 per ounce on Friday because of fears of a potential attack by Iran on Israel. So far this year, bullion has surged 18%. US gold futures also added 0.1% on Monday. They are up 15% this year. Oil prices had settled higher on Friday in anticipation of retaliatory action from Iran, hitting their highest levels since October. They retreated slightly during Asian trading hours on Monday, as traders curtailed the geopolitical risk premium after the attack caused only minor damage, according to Israeli military officials.
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